Benchmark Investment Advisors LLC Invests $518,000 in Spotify Technology S.A. (NYSE:SPOT)

Benchmark Investment Advisors LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,159 shares of the company's stock, valued at approximately $518,000.

Several other large investors also recently made changes to their positions in the stock. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology during the fourth quarter worth $27,000. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth about $33,000. Quent Capital LLC raised its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in Spotify Technology in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday. Cantor Fitzgerald reissued a "neutral" rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Barclays raised their price target on Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. FBN Securities began coverage on shares of Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective for the company. Finally, Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $555.30.

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Spotify Technology Trading Down 0.9 %

Spotify Technology stock traded down $5.05 during midday trading on Friday, reaching $547.97. The company's stock had a trading volume of 1,077,370 shares, compared to its average volume of 2,170,446. The stock has a market cap of $112.17 billion, a PE ratio of 91.66 and a beta of 1.75. Spotify Technology S.A. has a 52 week low of $267.76 and a 52 week high of $652.63. The business has a 50-day moving average price of $583.39 and a 200-day moving average price of $491.92.

Spotify Technology Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.